If you are a risk-taker and enjoy the challenges and roller-coaster ride, then the jungle phase is for you, and you should bias toward seed-funded or recently Series A–funded companies that are pre-revenue and have not yet achieved product/market fit. If you are more conservative, want a good salary, and prefer to pick a “safe” winner, then a highway-phase company that is post–product/market fit and either pre-IPO or recently IPO’ed is the right choice.
